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U.S. Retail Metrics Improve in Q3 Despite Diminishing Consumer Confidence

Source: CBRE

Executive Summary

  • Q3 2021 marked the fourth consecutive quarter of positive retail absorption (+36.7 million sq. ft.), with each asset class showing quarter-over-quarter gains.

  • Average asking rent rose for the third consecutive quarter, up by 2.9% year-over-year in Q3 to $21.31 per sq. ft.

  • New construction deliveries remained modest at 6.4 million sq. ft. in Q3, down by 29% from a year ago due to materials cost increases and sourcing delays.

  • Consumer sentiment fell in Q3 amid uncertainty regarding the delta variant, supply chain disruptions and inflationary pressure.

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